Quote:
Originally Posted by Garcia
The problem, from my perspective as one who has rented out my home, is people who buy for the purpose of short term rentals.
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True enough. My understanding of the IRS rules around investment property is that they want it to be all investment or all personal use to get the most out of the law--restricting personal use to two weeks. Not so many years ago, renting short term was a difficult enterprise, advertising in local papers, paying for long distance calls (remember those?) Now with internet, DocuSign, and VRBO, anybody can be a landlord for a week. And real estate management firms have sprung up all over to build the STR market even more.
Then, the pandemic came along pushing lakes region real estate values into the sky.
We'll have to learn how to dal with all this and it won't be done in 10 years. I hear good things about the northwest. Perhaps Idaho will be the next New Hampshire. The Yellowstone TV series has already prompted abusive development in Montana IMHO.